5 mins read

MaGIC, NEXEA extend Entrepreneurs Programme to support 30 Malaysian startups

February 11, 2022
5 mins read

NEXEA's Entrepreneurs Programme opens up to a total of 30 slots for technology or digital-related startups VC fund-cum accelerator NEXEA and Malaysian Global Innovation and Creativity Centre (MaGIC) have renewed their partnership to continue helping startups grow their businesses during this challenging time.

The Entrepreneurs Programme, which serves as a P2P networking platform, has now opened up to a total of 30 slots for technology or digital-related startups in the idea stage, early-stage or growth stage.

Also read: Exit Strategies: Ways to get your money back besides IPOs and M&A

Before being accepted, founders or C-suite executives need to go through interviews and test sessions and have a minimum viable product (MVP) or already generate revenue for their startups.

Founders can then participate in the group to learn from their peer founders and receive free benefits from partners such as Microsoft, IBM, HubSpot, Google Cloud Platform, among others.

These startups will also receive mentorship from NEXEA and MaGIC’s network of mentors, who are successful ex-entrepreneurs or C-levels who own or have sold (IPO and M & M&A) their businesses.

Since collaborating with NEXEA in March 2021, MaGIC has empowered 30 participants through the programme.

“By value-adding to the startups’ growth development cycle, we are effectively enhancing the value and impact for our innovators to deliver its benefits back into the ecosystem,” said Khalid Yashaiya, Acting CEO of MaGIC.

As of the third quarter of 2021, the Entrepreneurs Programme is reported to assist startups to gain more than RM75 million (~US$17.9 million) in total combined revenues and over RM1 billion (US$238.8 million) in combined startup valuations. In this quarter alone, startups generated a total of RM41 million (~US$9.8 million) in combined revenues, noted in a joint statement.

Also read: 25 notable startups in Malaysia that have taken off in 2021

These startups also managed to achieve RM118 million (US$28.1 million) in combined funding. They include B2B e-wholesaler Lapasar, online parking solutions firm ParkIt, payment platform Riipay, employee lifestyle support service provider Perkaholic, and more.

Image Credit: NEXEA

Up Next